NIDC to auction 12,35,144 Nabil shares, sets minimum price at Rs 1022

ShareSansar, June 11:

NIDC Development Bank Limited has announced to sell the promoter shares of Nabil Bank.

NIDC started to sell the promoter shares after the Nepal Rastra Bank imposed a ban against cross-holding shares.
NIDC has already sold 3 lakhs units promoter shares of Nabil and is now planning to sell the remaining 12,35,144 promoter shares through auction process.

The bank has set the minimum price for the shares at Rs 1022. The bank had called for bidding from interested investors on Monday. The promoter shares would be auctioned among selected bidders who place higher bids in the first week of July.